Executory - Study guides, Class notes & Summaries

Executed and Executory contracts are differentiated by: - their stages of fulfillment. Which of these is an exemption to the "legal capacity" requirement to form a contract? - A contract for a life necessity. A contract for non-life necessities with a person lacking legal capacity is: - Voidable A contract for deed is a classic example of a(n): - Executory contract An option is a form of which kind of contract? - Unilateral According to TREC a "reasonable time" within which to deposit ...

ASREB Test Questions and Answers 100% Verified A borrower is required to put 10% down for the purchase of a property. The 10% down would be considered... Answer-Equity A broker, acting as a property manager, would be considered what type of agent? Answer-General A contract has been signed, but title has not yet been passed. The contract is... AnswerExecutory A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If there are 4 points, how much...

LEB 320F FINAL EXAM QUESTIONS AND ANSWERS GRADED A+ What is the difference between "executed" and "executory" contracts? An executed contract is one where all parties have fulfilled their obligations, while an executory contract has ongoing obligations that have not yet been completed. How does "statute of frauds" affect contract enforcement? The statute of frauds requires certain types of contracts to be in writing to be enforceable, such as contracts for real estate transa...

Utah Real Estate General Sales UPDATED Exam Questions and CORRECT Answers Bob the buyer has made an offer on Sam the seller's property. That offer has been accepted. Bob is working on finalizing his loan for the purchase as part of the contingencies of the agreement. What kind of agreement exists between Bob and Sam? (a) Executed (b) Sale pending (c) Executory (d) Voidable - CORRECT ANSWER- (c) Executory J carried back a 2nd mortgage when his home was sold. Now he needs some ready...

Business Law REG Exam Questions & Answers 2024/2025 Define Bilateral contract - ANSWERSA bilateral contract is a promise in exchange for a promise creating a contract. Define executory contract - ANSWERSAn executory contract is one not fully performed. What are four requirements for a *valid contract*? - ANSWERSoffer and acceptance, consideration (computer for $400), nothing to indicate either party lacks legal capacity, and in legal purpose. Define unilateral contract - ANSWERSan ...

The state of the contract between the execution date and the closing. A) Fully executed contracted B) Executed contract C) Option contract D) Executory contract - ANSWER D) Executory contract This lease has a defined specific beginning and ending date. A) Estate at sufferance B) Estate at will C) Estate from period to period D) Estate for years - ANSWER D) Estate for years The TREC ONE-TO-FOUR RESIDENTIAL RESALE CONTRACT requires the seller to deliver__________ to the b...

TEXAS PROMULGATED CONTRACTS- CHAMPIONS FINAL EXAM STUDY GUIDE 2024/COMPLETE QUESTIONS WITH CORRECT DETAILED ANSERS/A+ GRADE The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and . (a) Default (b) Mutual consent (c) Property condition (d) Recording - B parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (d) Void - A

Promulgated Contract Forms Practice Test Questions With All Correct Answers Elements of a Valid and Enforceable Contract - CORRECT ANSWERS 1. Competent Parties 2. Offer and Acceptance (mutual consent) 3. Legal Purpose 4. In Writing 5. Consideration Valid Contract - CORRECT ANSWERS A contract that meets all the requirements of law. Void Contract - CORRECT ANSWERS A contract having no legal force or binding effect...

The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording - B A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilateral (d) Void - A

Massachusetts Real Estate Exam 2 Questions with Correct Answers Brokers Authority to prepare documents - Answer-Fill in blanks...do not fill in Legal language Expressed vs. Implied Contracts - Answer-Expressed (sellers signing a marketing contract) Implied ( if you bring me a buyer I will pay you 3%) Another example; If you cash a rent check while tenant in sufferage you are implying that you have a lease Executory and Executed Contracts - Answer-Executory (something still remains to be ...